Minrav lands $117M loan for planned Kips Bay resi tower

Minrav Development landed a $116.7 million loan for 368 Third Avenue, a planned 35-story residential tower in Kips Bay. Israeli financial firm Bank Leumi provided the new loan package, which consists of a $42.5 million acquisition mortgage, a $48.2 million construction loan and a $26 million project loan, according to records filed with the city Thursday. Minrav acquired the development site, located near the corner of East 27th Street, for $64 million in May from […]


Source: Real Estate

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